Kang Seung, Coupang Co-CEO, “Thanks to the staff… Free stock gift

Kang Seung, co-representative of Coupang’s management, expressed his willingness to donate stocks free of charge to Coupang friends, distribution center employees, level 1-3 employees, as well as contract workers.

On the morning of the 15th, CEO Kang sent an e-mail to the employees who are eligible for stock donation, saying, “We want to give Coupang’s stock to be listed free of charge in order to express our gratitude for the efforts of the on-site employees and open a strong future together. .

He continued, “Through this one-time share grant program, you will receive approximately 2 million won worth of shares (RSU, stocks with limited transfer conditions).”

RSUs are stocks that can be received and traded in Class A ordinary stocks only after the stocks are paid and must remain for the period at which they belong. After receiving the stock, 50% of the stock is attributable to the employee for one year of employment, and the remaining 50% at the time of two years of employment.

As of March 5, Coupang’s friends, regular employees of distribution centers, and level 1-3 employees are the recipients of this stock donation.

Earlier, Coupang announced that it would distribute 100 billion won worth of stock to regular employees related to logistics such as Coupang friends while filing a declaration filed with the Securities and Exchange Commission (SEC) for listing Class A common stock, but this is the first time that a contract worker has been included. .

CEO Kang Seung added, “I know that the decision to give free stock to on-site employees is the first in Korea. This is an extension of our efforts to provide the best environment in the industry to on-site employees.”